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Gold and Silver Prices Continued to Rally –Recap November 3

November 4, 2011

The financial markets continued to rally following the news from Europe including: the ECB cutting the rate by 0.25 percent points to 1.25% and the chance of Greece canceling the Referendum. Yesterday major commodities prices rallied: gold and silver prices finished trading in the green; crude oil prices also inclined. Natural gas (future) prices also slightly rose. Here is a summary of the price movements of precious metals and energy commodities for November 3rd:

Precious Metals prices:

Gold price sharply inclined yesterday by 2.05% and reached $1,765.10; Silver price also increased by 1.64% to reach $34.50. During the week, gold price rose by 1.0% but silver price decreased by 2.2%.